What is a risk matrix and how is it used to decide course of action for upcoming operations?

• A. A weather chart
• B. A tool rating probability and impact to prioritize mitigations and guide decisions on alternatives
• C. A salary table
• D. A schedule of maintenance

Answer: (B)

A risk matrix is a decision-support tool used in planning operations. It assigns a likelihood (probability) and a consequence (impact) to each identified risk and places them on a grid to categorize overall risk levels. This visualization helps you see which risks pose the greatest threat and deserve action, such as mitigation measures, contingency plans, or changes to the operation. By comparing risks on the same scale, you can prioritize where to focus resources and decide the best course of action—whether to proceed, adjust the plan, implement safeguards, or seek alternatives. A weather chart, a salary table, and a maintenance schedule serve different purposes and don’t provide this probability–impact framework for decision making in operations.